If you’re thinking of switching careers … you’re not alone.

A survey commissioned by Amazon, and published on the CNN website, shares that 61% of job seekers surveyed are looking for a job in a new industry because of the pandemic.

COVID-19 has given us an introspection opportunity. It has given us time to review our career choices and examine if there is something better out there.

While some people are questioning if they were even on the right career path, to begin with, others are looking into continuing their education.

What has changed?

The way we work has changed too. For instance, work from home policies were previously being implemented by only a handful of companies. Now, companies are beginning to see that work from home can indeed be implemented even in a Post-COVID-19 world.

HR professionals are championing it because it has improved work-life balance, many employees are happy that they don’t have to commute long distances, and companies are realizing that they may not need huge office spaces after all!

Similarly, when it comes to industries, some are doing better than others. For instance, healthcare, essential retail, and information technology firms continue to hire despite a global pandemic.

Though, many jobs in retail, hospitality, travel, manufacturing, and tourism have disappeared.

Why is it important to restructure your finances?

If you’re considering a career transition or perhaps even going back to school, it is important to have a financial plan in place.

Following your dreams and taking a leap of faith can be difficult if you have debt and financial concerns bothering you.

This is particularly true if you’ve lost your job and already have debt to pay off. If your bills keep accumulating and you’re not able to pay them off, this can impact your credit score.

So, when opting to start a new career, reviewing and restructuring your finances and debt can help you gain peace of mind. Your debt management plan should include:

• A detailed budget.
• A plan to avoid taking on more unnecessary debt, such as charging expenses to your credit card.
• Consolidating debt payments and paying off high-interest debt.

You can also use our online debt repayment calculator, to easily calculate how you can be out of debt within five years!

How can we help?

Getting your finances in order can be challenging particularly when you have to focus on a career transition.

This is where credit advice from a financial consultant can help.

Working with a financial consultant, like DebtCare, can help you come up with a plan to reduce debt; enabling you to have a fresh financial start to match your new career trajectory.

Call us today for a free consultation on 1-888-890-0888 or visit www.debtcare.ca